AMETEK (NYSE:AME) Upgraded by StockNews.com to “Buy” Rating

AMETEK (NYSE:AME) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

AME has been the topic of several other reports. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Truist Financial upped their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. KeyCorp raised their target price on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.50.

AMETEK Trading Down 1.2 %

Shares of NYSE:AME opened at $176.26 on Thursday. The business’s 50 day moving average price is $187.87 and its 200-day moving average price is $174.69. AMETEK has a 1 year low of $149.03 and a 1 year high of $198.33. The firm has a market capitalization of $40.77 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 earnings per share. On average, equities research analysts forecast that AMETEK will post 6.8 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the transaction, the insider now owns 30,460 shares of the company’s stock, valued at $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,200 shares of company stock valued at $5,707,620. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several large investors have recently added to or reduced their stakes in AME. Hutchens & Kramer Investment Management Group LLC increased its position in shares of AMETEK by 3.8% during the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,764 shares of the technology company’s stock worth $298,000 after acquiring an additional 65 shares during the period. Miracle Mile Advisors LLC increased its holdings in AMETEK by 0.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 7,178 shares of the technology company’s stock worth $1,233,000 after purchasing an additional 66 shares during the period. EP Wealth Advisors LLC raised its position in AMETEK by 1.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,330 shares of the technology company’s stock valued at $1,055,000 after purchasing an additional 71 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after buying an additional 77 shares during the period. Finally, Brooklyn Investment Group grew its position in shares of AMETEK by 5.9% during the third quarter. Brooklyn Investment Group now owns 1,567 shares of the technology company’s stock worth $269,000 after buying an additional 87 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.